By Sabela Ojea

Unite the Union said Wednesday that Lloyds Banking Group PLC will be closing 56 branches across Lloyds, Halifax and Bank of Scotland, which will result in 160 job cuts.

Unite said the FTSE 100 listed bank's branches were initially meant to close over a six-month period, starting from April to October this year.

However, "instead they will be raced through from March 2021 as LBG plays catchup on the closure plans," the trade union said.

"Unite has opposed these bank branch closures at every step. The decision to go ahead and close 56 branches is unjustified and damaging. This devastating news comes just two weeks after the bank announced the loss of over 1,000 jobs from across LBG," Rob MacGregor, Unite national officer, said.

Lloyds's shares at 1129 GMT were down 0.01% at 35.59 pence.

Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix

(END) Dow Jones Newswires

November 18, 2020 06:56 ET (11:56 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.
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